Economic ELA

By: Logan, Alyssa, Sierra, Mason, Jacob

Economic ELA

By: Logan, Alyssa, Sierra, Mason, Jacob

The Stock Market crash of 1929

The stock market had begun to decrease in value. Everyone said that it could possibly crash so people began to get worried and all of the people pulled their money out of there stocks. This caused banks to lose a lot of money which had a hand in causing The Great Depression of the 1920's.

Black Tuesday

Black Tuesday is another name for the stock market crash. In early October 1929, the stock market had been on slight decline, and following October 18th, the entire crash had begun. Many American banks bought large amounts of stock to help balance out the 12,000,000 shares bought that day. The banks had begun to ran out of money, so, people pulled out every bit of money they had in their account. Basically this led to the banks having no money, and succeeded in causing the stock market collapse.

How did it affect americans?

The crash of 1929 affected every day lives of americans by the millions. The unemployment rate skyrocketed and people that lived of the stock didn't have the ability to do that anymore.